(See Solution) In your own words, provide a brief interpretation of the following values: P-value = 0.01 Type I Error () = 0.05 Type II Error () = 0.25 Given
Question: In your own words, provide a brief interpretation of the following values:
- P-value = 0.01
- Type I Error () = 0.05
- Type II Error () = 0.25
Given a Type II Error of 0.25, what level of power would this study have? Provide an interpretation of this value.
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